AG (ACX); FY18 gross betting and gaming revenues decrease to €143.4m

Published on 04-03-2019 11:52:00
Author Sparks Team

bet-at-home released results today, showing that FY18 gross betting and gaming revenues decreased from €145.4m to €143.4m, whereas betting fees and gambling levies increased to €21.0 million. As a result, net betting and gaming revenues declined to €115.1m.

VAT regulations for suppliers of electronic services in the European Union reduced the company’s FY18 earnings by €7.3m (compared with a reduction of €8.8m last year). In conjunction with marketing expenses of €38.3m, this led to an EBITDA increase to €36.2m.

At the Annual General Meeting, which will take place in May 2019, the company will propose a dividend of €6.50 per share.

bet-at-home guides FY19 gross betting and gaming revenues of €130-143m, slightly less than in FY18, due to legal uncertainties in the Switzerland. The company expects its FY19 EBITDA will amount to €29-33m.

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